Sussex Lantern Annual Report 20222- 2023
REGISTERED COMPANY NUMBER: 04347767 (England and Wales) REGISTERED CHARITY NUMBER: 1091463
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
FOR
SUSSEX LANTERN
Parkers 178-180 Church Road Hove, East Sussex BN3 2DJ
SUSSEX LANTERN
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Cash Flow Statement | 7 | ||
| Notes to the Cash Flow Statement | 8 | ||
| Notes to the Financial Statements | 9 | to | 13 |
SUSSEX LANTERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objectives are to relieve and improve the quality of life of the blind and partially sighted, and of disabled people within Brighton and Hove and in West and East Sussex. The year to 31 March 2023 was a challenging year.
Sussex Lanterns Aim was to remain financially stable, to continue develop appropriate services suitable for our client base. To keep flexibility, to use spare capacity to help raise funds for the charities stated aims and objectives. We were concerned that the number of people using and needing our services would be down, although numbers were less, we remained busy throughout the year. The loss of income from the main site activity has been less than expected.
During 2023 -2024 we wish to establish a number of lodges suitable for severely disabled and for less able Blind people and partially sighted people. A number of discussions have taken place with Lodge Builders and also the Local Council & Southdown Park. We would like to move this outcome forward as quickly as possible.
The charity's main objectives for the year :-
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To maintain the recognition of excellence from the promoters of such facilities, which in turn encourages disabled people to use the park, which has a reputation of excellence. All facilities are maintained to a high standard the grounds with its many trees, shrubs and floral beds are all very attractive and helps to keep facilities fairly private. All on very flat and even ground.
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During the next year a series of improvement to the main facilities which are now well worn will be made. Including adding Solar Energy or ground source heating. We will continued to upgrade and add additional facilities to the Park. With many more trees and hedges and small floral beds which offer a peaceful, charming, colourful view and protection of this stunning land.
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By making the facilities available to the local community on a restricted and tightly controlled basis, we can continue to develop an income to ensure our charitable work is sustainable. It has been an extremely difficult year, but one in which the staff and volunteers can be justly proud.
ACHIEVEMENT AND PERFORMANCE
Achievement and performance
Throughout 2022/2023 great effort was made regarding seeking the funds for the development of the new centre and the site overall.
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The Chief Executive Officer continues developing and supporting both the Leisure Park, its volunteers and staff and relationships with a number of disabled groups. She has also built good working relations with local hospitals, the community and specialist managers working with the Blind Partially Sighted and Disabled People.
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A successful Leisure Park is essential, during this period due to the almost stagnation of charitable fund-raising during these difficult times. It has provided all the finances for our work to date. It is also an exceptional financial asset, ensuring that we have the ability to develop and provide much needed, imaginative services to our client group into the future.
Page 1
SUSSEX LANTERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
FINANCIAL REVIEW
Financial position
The funding sources so far is from the Leisure Park. Donations are increasing from visitors, and others. A small number of grant making trusts have been approached regarding funding for the building of the new centre. These applications have so far been unsuccessful.
All costs are met from the earned income of the Leisure Park. This has allowed us to leave our donations and existing savings untouched.
Investment policy and objectives
Future income will provide steady savings to accumulate funds to ensure the future of the charity, it's aims and objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Sussex Lantern is a charitable company limited by guarantee, incorporated on 4th January 2002 and registered as a charity on 27th March 2002.
Registered Charitable Company Number 43477767. Registered Charity Number 1091463.
The charitable company emerged from its original foundation, the Brighton Society for the Blind, which was an unincorporated charity founded pre-1860 and all of the assets and reserves held by the Society were transferred to Sussex Lantern on the 1st April 2002.
Sussex Lantern was the original title of the charity which was nicknamed by the users and members as "The Lantern". The Charity has worked continually since its foundation pre 1860.
The charity is governed by a Memorandum and Articles of Association and is controlled by a board of trustees whose members are elected at the Annual General Meeting and are directors for the purposes of company law and trustees for the purposes of charity law.
Recruitment and appointment of new trustees
New directors/trustees are selected on the basis of the contribution that they will make to the governance of the organisation and the skills they will contribute.
Induction and training of new trustees
Directors/Trustees are introduced to the work of the organisation by an existing Director/Trustee. The story is told by the use of photographs of our work and the introduction to people partaking of our services .
If an applicant is successful, a copy of our governing document is given to them along with the Charities Commission Guidance to Trustees. All Directors/Trustees are kept up to date with external changes in governance, by the Chief Executive and Chairman.
Risk management
Financial controls are strictly enforced. Compliance requirements which are assessed annually, are met in full. The systems introduced over are monitored and working successfully.
To avoid financial risk of deposits in the Bank we have spread the risk by opening a separate Bank "The Charity Bank" for our savings account.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04347767 (England and Wales)
Registered Charity number
1091463
Page 2
SUSSEX LANTERN
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
Registered office
Southdown Farm Lodge Lane Keymer Hassocks West Sussex BN6 8LX
Trustees
F Wright Mrs G D Wright Director and Company Secretary G Hill S Guest R Swale-Pope (MBE)
Company Secretary Mrs G D Wright
Independent Examiner
Annette Watson FCA Parkers 178-180 Church Road Hove, East Sussex BN3 2DJ
Bankers
Bank of Scotland 38 St Andrews Square Edinburgh EH2 2YR
Solicitors
Griffith Smith Farringdon Webb 47 Old Steyne Brighton East Sussex BN1 1NW
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. G Hill - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SUSSEX LANTERN
Independent examiner's report to the trustees of Sussex Lantern ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Annette Watson FCA
Parkers 178-180 Church Road Hove, East Sussex BN3 2DJ
Date: .............................................
Page 4
SUSSEX LANTERN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Members' services Other 7 Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 522,772 7,321 530,093 164,366 120,515 - 284,881 245,212 2,270,100 2,515,312 |
2022 Total funds £ 993,290 2,003 |
|---|---|---|
| 995,293 | ||
| 239,308 98,135 122,149 |
||
| 459,592 | ||
| 535,701 1,734,399 |
||
| 2,270,100 |
The notes form part of these financial statements
Page 5
SUSSEX LANTERN
BALANCE SHEET 31ST MARCH 2023
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 1,605,030 929,189 (18,907) 910,282 2,515,312 2,515,312 2,515,312 2,515,312 |
2022 Total funds £ 1,620,776 663,802 (14,478) 649,324 2,270,100 2,270,100 2,270,100 2,270,100 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. G Hill - Trustee
The notes form part of these financial statements
Page 6
SUSSEX LANTERN
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ 258,666 258,666 (600) 7,321 6,721 265,387 663,802 929,189 |
2022 £ 557,380 |
|---|---|---|
| 557,380 | ||
| - 2,003 |
||
| 2,003 | ||
| 559,383 104,419 |
||
| 663,802 |
The notes form part of these financial statements
Page 7
SUSSEX LANTERN
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2023
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of | |||
| Financial Activities) | 245,212 | 535,701 | |
| Adjustments for: | |||
| Depreciation charges | 16,346 | 16,346 | |
| Interest received | (7,321) | (2,003) | |
| Increase in creditors | 4,429 | 7,336 | |
| Net cash provided by operations | 258,666 | 557,380 |
2.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1/4/22 | Cash flow | At 31/3/23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 663,802 | 265,387 | 929,189 |
| 663,802 | 265,387 | 929,189 | |
| Total | 663,802 | 265,387 | 929,189 |
The notes form part of these financial statements
Page 8
SUSSEX LANTERN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs
Expenditure on Charitable Activities includes the proportion of salaries, secretarial costs and other relevant expenses which relate to the planning, development and administration of these activities. Staff costs are allocated proportionally on a time spent basis. Other indirect costs are apportioned as the trustees deem appropriate from time to time.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - in accordance with the property |
|---|---|
| Plant and machinery | - 20% on cost |
| Fixtures and fittings | - 20% on cost |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
2. DONATIONS AND LEGACIES
| Campsite income Legacies |
2023 £ 285,909 236,863 522,772 |
2022 £ 243,326 749,964 |
|---|---|---|
| 993,290 |
Page 9
continued...
SUSSEX LANTERN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
| 3. | INVESTMENT INCOME | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| £ | £ | |||||
| Deposit account interest | 7,321 | 2,003 | ||||
| 4. | RAISING FUNDS | |||||
| Raising donations and legacies | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Campsite costs | 164,366 | 239,308 | ||||
| 5. | CHARITABLE ACTIVITIES COSTS | |||||
| Support | ||||||
| Direct | costs (see | |||||
| Costs | note 6) | Totals | ||||
| £ | £ | £ | ||||
| Members' services | 36,856 | 83,659 | 120,515 | |||
| 6. | SUPPORT COSTS | |||||
| Management | ||||||
| £ | ||||||
| Members' services | 83,659 | |||||
| 7. | OTHER | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Project manager | - | 1,718 | ||||
| Exceptional items | - | 120,431 | ||||
| - | 122,149 | |||||
| Exceptional costs of £nil (2022:£120,430) relate to costs incurred with a | fraudulent investment. | |||||
| 8. | NET INCOME/(EXPENDITURE) | |||||
| Net income/(expenditure) is stated after charging/(crediting): |
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 16,346 | 16,346 |
Page 10
continued...
SUSSEX LANTERN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.
10. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries Other pension costs |
2023 £ 76,666 6,993 83,659 |
2022 £ 59,207 5,034 |
| 64,241 |
The average monthly number of employees during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| Administrative staff | 1 | 1 |
No employees received emoluments in excess of £60,000.
11. TANGIBLE FIXED ASSETS
| COST At 1st April 2022 Additions At 31st March 2023 DEPRECIATION At 1st April 2022 Charge for year At 31st March 2023 NET BOOK VALUE At 31st March 2023 At 31st March 2022 |
Freehold property £ 1,743,923 - 1,743,923 133,973 11,669 145,642 1,598,281 1,609,950 |
Plant and machinery £ 117,204 - 117,204 107,562 4,282 111,844 5,360 9,642 |
Fixtures and fittings £ 248,221 600 248,821 247,037 395 247,432 1,389 1,184 |
Totals £ 2,109,348 600 |
|---|---|---|---|---|
| 2,109,948 | ||||
| 488,572 16,346 |
||||
| 504,918 | ||||
| 1,605,030 | ||||
| 1,620,776 |
Page 11
continued...
SUSSEX LANTERN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Accrued expenses 13. MOVEMENT IN FUNDS At 1/4/22 £ Unrestricted funds General fund 2,270,100 TOTAL FUNDS 2,270,100 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 530,093 TOTAL FUNDS 530,093 Comparatives for movement in funds At 1/4/21 £ Unrestricted funds General fund 1,734,399 TOTAL FUNDS 1,734,399 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 995,293 TOTAL FUNDS 995,293 |
2023 £ - 18,907 18,907 Net movement in funds £ 245,212 245,212 Resources expended £ (284,881) (284,881) Net movement in funds £ 535,701 535,701 Resources expended £ (459,592) (459,592) |
2022 £ 1,437 13,041 14,478 At 31/3/23 £ 2,515,312 2,515,312 Movement in funds £ 245,212 245,212 At 31/3/22 £ 2,270,100 2,270,100 Movement in funds £ 535,701 535,701 |
|
|---|---|---|---|
Page 12
continued...
SUSSEX LANTERN
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2023.
Page 13
INDEPENDEIIT EXAMINEFYS REPORT TO THE TRUSTEES OF SUSSEX LAKfERN I report to the (arity trustees on my examsnatson of the ac(X>Ltnts of cOnY for the year end8d 31st 2023. Respon51blliUe¥ basls of rwrt As the charity's trustees of the Company {and also it8 dIth for the ttjmpany law) are responsible for the wep8rthn of the arrUnIS in accordaThx with the rUIr1 of the Compantes A 2006 Cthe 2006 Art) Hav satisfied myself that actounts of the Company ar& Th)t f8quired to be audit8d under Part 16 of the 2006 Art and are eligthle for independent examinalion. I r8port in respect of my examination of yJr chaiitys arxounts as carried out under Section 145 of the Charthes Ad 2011 (Yhg 2011 Aol. In carying txrt my examinaiion I have foll Ihe DireLons given by the Charity ConNxission under Seth)n 145(51 (b) of the 2011 Ad. Indepgndentexamlner's Statement Since ycw charl5 gross income exLt8ded £250,000 your examiw musl be a member of a listed body. I ¢8n t))nfirm th l am qualifi¢d lo undertake the examination becaLtse l am a memter of the Institirte of Clwrtered A1untants in ErrKI Wales. whK is one ofthe listed tiodies. exaThMnation giving me cause to leve." arAxJunting records werè not kept fft respect of the Company as r•quired by Secon 386 of the 20C6 ACL or the 8C)))unts do not afJ>Jrd with those reids,. or the accounts do not ¢xmply with the aco)untin9 rewrements of Se(on 396 of the 20 Ac other than ary requir that the accounts give a Iwe and fair Nlew bvhith Is not a matter tr)nsider&l as partof an independent examtnatson.. or Ihe accaunts have not I prepared in accordance the methcts and princ6pleg ofthe Ststerw of Recomnded Pracltce tr a(x(MJnttng and reporting ty tharthes (athTcable to tharibes preparing thr acc4)unts in accortsnr* V&ith FinancFal Reporting StandaFd applh?ble in thè UK and Republic of Ir8laThY IFRS 1021). I have no ojncems and have come arm no other matt5 in c#Jnnecaion with the examination to whrch attention shoukl be drawn in this reFQrt in order to ertable a proper undeF5tanding of the accounts to be Annatte Watson FCA P8Tkers 17&180 Churth Rowj Hove, East Sussex BN3 2DJ 2e4 1013 P8ge 4